Lastminute celebrates subscriber surge

12:00AM BST 08 May 2001

LASTMINUTE.COM, the high-profile online travel and shopping company, has announced a 9.6 per cent surge in subscribers to 3.1 million over the three months to March 2001, and a 47 per cent increase in sales.

Net losses were £10.7 million, compared with £11.7 million in the three moths to December 2000. The figures confirm a positive trend in the company's performance since the arrival of Allan Leighton, who headed Asda's European operations before joining Lastminute in October last year.

Brent Hoberman, chief executive, predicted that the combined UK and French operations would be profitable within the next 12 months. He said: "This business is on track again at a time when 90 per cent of internet operations are disappointing. We believe we have a very solid foundation to build on our vision."

Mr Hoberman also said that his company would outperform its rivals during the widely-expected economic slowdown. He said: "Our experience shows that during a downturn we will do better because customers are more focused on value."